Selling Then Buying Your Virginia Highland Home

Situated in the heart of Atlanta, Virginia Highland is a charming and affluent neighborhood known for historic architecture, boutique stores, upscale restaurants, tree-lined streets, and well-maintained green spaces. You’ll find a collection of Craftsman bungalows, English Cottage, and Colonial Revival homes, along with Contemporary-style mansions and luxury condominiums. It’s named after the intersection that is the center of the community, and here you’ll find some of Atlanta’s best shopping and dining. During the day, locals and visitors alike fill the streets. At night, lively bars and lounges fill up.

Virginia Highland real estate is very competitive, with rising property values and highly-desirable housing. Just two miles north of downtown Atlanta, it’s the ideal location for commuters and students attending Georgia State University who want a quieter, small-town appeal away from the hustle and bustle. With the recent construction boom of luxury homes and condominiums, there’s been a higher influx of newcomers looking to capitalize on the strong real estate market. Here’s what to know about selling and then buying your Virginia Highland home.

The advantage of selling your home before buying a new one is that you won’t pay for two mortgages simultaneously. This will allow you to take your time in considering and negotiating offers on your current home instead of feeling as if you need to sell it fast. This way, you can also focus on one process at a time.

Research the local market and familiarize yourself with real estate terms. This will help you understand the current conditions and make informed decisions when it comes to pricing your current home. Take a look at Virginia Highland’s most recent real estate “comps,” which are comparable sales of homes with similar characteristics. You’ll get a more definitive idea of what your home is valued at and what similar homes are listing and closing for. A local realtor will have up-to-date data and can put together a list of comparable sales for you to study. You can then discuss the best pricing strategy. Pricing your home right is one of the most critical steps in the home-selling process.

Typically, the best time to list your home is in the spring. More specifically, according to the National Association of Realtors, it’s in mid-April. Strong demand, higher asking prices, and quicker home sales often characterize the spring homebuying season. This is followed by the peak spring and summer homebuying seasons when the weather is not too cold to relocate. During the summer, families with children can move and switch schools easily during their vacation and before the next academic year begins instead of in the middle of the school year.

In a historic neighborhood such as Virginia Highland, there are other factors to consider. Potential homebuyers who are attracted to the distinct charm and ambiance of the neighborhood or its more unique characters may not follow the most popular times. Consider specific times of the year when the community is especially highlighted, such as during holidays or when home gardens are in full bloom.

The real estate industry consists of a network of professionals, from home appraisers and photographers to mortgage lenders and title companies. Although hiring professionals when selling your home incurs additional costs, their work can significantly raise the value of the property and save you a lot of time and effort from having to do all the work yourself.

 

For example, professional stagers and photographers can make your home look more appealing and spacious. They are experts in maximizing spaces, showing unique characteristics, and using natural light to highlight your home’s best features. Especially since the pandemic, more homebuyers are prescreening homes online. Having your home staged and photographed professionally will help your home stand out.

The advantage of selling and buying in the same neighborhood is that you can start looking for a new home while selling your old one. Having the same realtor will also help streamline the process and save you time and energy from having to work with two separate realtors.

List the things you want your new Virginia Highland home to have. This includes the number of bedrooms and bathrooms, the size, and amenities, like a garage or a pool. Be specific when it comes to your needs. For example, will you need a home office because you’ll be working from home? How many cars will need to fit in the garage? Do you want an outdoor living space? What kind of architectural style do you prefer, historical or modern? You also need to consider if you want to live close to parks, restaurants, or schools.

Just like correctly pricing your home is critical to selling it, setting a budget when buying your new home is important. Consider your financial situation, including the amount of money available for a down payment and your income. The pre-qualified or pre-approved mortgage loan amount will also be a determining factor. Be realistic about what you can afford and know the extra costs when buying a house. This includes homeowners insurance, property taxes, and maintenance expenses.

Work with your realtor to search for available homes for sale in Virginia Highland. Find listings that meet your criteria and schedule showings. During the physical tours, you can inspect the conditions of the properties and check whether they meet the criteria you’ve set in terms of bedrooms, amenities, features, and location.

Once you find a home you want to buy, you can work with your realtor to put in an offer. Your realtor can help you determine the right offer price and let you know the terms and contingencies. They will guide you through the entire homebuying process, negotiate for you, and advise you on making counteroffers if needed.

Having the same realtor when selling and buying your home can save you the time and effort it will take to communicate with two different realtors. With over 20 years of personal experience in buying, designing, remodeling, and selling his properties, Sonny Jones is the ideal Atlanta real estate agent who can navigate through both the selling and buying processes at the same time while providing you with exceptional service.